Ceredigion is another part of the UK where the price of houses is increasing.

Despite being located away from large cities, the cost-of-living crisis combined with mediocre salaries mean it is difficult for residents to purchase their own home.

The average salary in Ceredigion is £27,500 with the average house price being £267,205 according to Rightmove.

Hence, the average salary in Ceredigion would allow you to borrow £95,250 to a maximum of £137,500 for the purchase of a property.

Calculated by multiplying the average salary by four and a half – there aren’t many houses in Ceredigion that can be bought, particularly with additional costs like stamp duty and deposit.

Which claims that deposits differ between five to fifteen percent of the house price and the normal rate for exchange deposits is ten percent.

Here are the average property prices for different towns in Ceredigion according to Rightmove and the annual income you need for a mortgage:

Aberystwyth

Average house price: £230,171

Household income required to buy: £51,149

Cardigan

Average house price: £253,075

Household income required to buy: £56,238

Lampeter

Average house price: £253,236

Household income required to buy: £56,274

Aberaeron

Average house price: £359,214 

Household income required to buy: £79,825

Aberporth

Average house price: £290,875

Household income required to buy: £64,638

Borth

Average house price: £253,070

Household income required to buy: £56,237

Llanarth

Average house price: £224,917

Household income required to buy: £49,981

Llanddewi Brefi

Average house price: £445,000

Household income required to buy: £98,888

Llandysul

Average house price: £263,445

Household income required to buy: £58,543

Llanilar

Average house price: £230,722

Household income required to buy: £51,271

Llanrhystud

Average house price: £241,100

Household income required to buy: £53,800

Llanon

Average house price: £229,000

Household income required to buy: £50,888

New Quay

Average house price: £272,550

Household income required to buy: £60,555

Tregaron

Average house price: £234,586

Household income required to buy: £52,130